Classic Manufacturing makes carrying cases for portable electronic devices. Its costing records yield the following information: (Cliok the icon to view the costing records.) Read the Requirement 1. Which type of costing system is Classic using? What plece of data did you base your answer on? Classic uses a Fystem. We know this because Classie's costing reoords show costs being acoumulated for each Requirement 2. Use the dates in the table to identify the status of each job at Ootober 31 and November 30 . Compute Classic's aocount balances at Ootober 31 for Work-in-Process Inventory. Finished Goods Inventory, and Cont of Goods Sold. Computh, by job, account balances at November 30 for Work-in-Process inventory. Finished Goods Inventory, and Cost of Goods Sold. (f an input field is not used in the sohedule. leave the input field empty, do not seleot a label or enter a zero.) Prepare the October schedule first, followed by the November schedule Classic Manufecturing Computation of Work-in-Process ifventory. Finished Goods inventory, and Cost of Goods Sold Requirement 3. Prepare joumal entries to record the transfer of completed jobs from Work-in-Process Inventory to Finished Goods Inventory for October and November. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Record October's entry first. Now record November's entrv. Requirement 4. Record the sale of Job 3 for $2,200 on account. (Record debits first, then credits. Select the explanation o the last line of the journal entry table.) First, record the revenue related to the sale of job 3 on account. Now record the cost of goods sold for Job 3. Requirement 5. What is the gross profit for Job 3? Compute gross profit for Job 3 Data table